Emerging Issues in Tax Practice Due Diligence

IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (afsp) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG

DISCLAIMER: THIS SEMINAR WAS FILMED IN New Orleans, LOUISIANA, ON JULY 26, 2016, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

The IRS Office of Professional Responsibility presented this seminar at the 2016 IRS Nationwide Tax Forum.

This session will focus on emerging substantive tax issues and the appropriate levels of due diligence required to advise your clients under the regulations in Circular 230. Areas to be covered include Affordable Care Act due diligence and acceptable reliance on information from clients and third parties. A good understanding of Circular 230 will enhance your understanding of this session.

By the end of this presentation, you will be able to:

• Recognize Circular 230 Provisions for Due Diligence
• Recall Due Diligence as to Accuracy
• Identify Due Diligence for Tax Returns
• Determine Disclosure requirement
• Recognize Due Diligence in order to avoid common errors in Real Estate, Like Kind Exchanges, and Offer in Compromise cases

No prerequisites or advanced preparation are required for this seminar.